We can observe weakness in S&P 500 Index. So we are highlighting this weakness of S&P 500 Index in this blog post with our projected price targets for S&P 500 Index so that you can take advantage.
After record “all time high” for S&P 500 Index at 3,588.49 on Wednesday 02-Sep-2020, we can observe this weakness in S&P 500 Index after that corresponding week number 36 (from 31-Aug-2020 to 04-Sep-2020).
At the time of writing our blog post on 20th of September 2020, S&P 500 Index is trading at the price level of 3,327.85. This price level of 3,327.85 has closed below the support trend line drawn from the swing low of week number 20 from 11-May-2020 to 15-May-2020 to the swing low of week number 25 from 15-Jun-2020 to 19-Jun-2020. This close for S&P 500 Index can be regarded as its second signal of weakness.
The 1st signal of weakness for S&P 500 Index is its close below the same trend line as mentioned above at the price level of 3,337.15 in the previous week.
It is interesting to note that now S&P 500 Index is closing below its pre Covid-19 high of 3,397.2 for two consecutive weeks and not only this, but also, S&P 500 Index has got stuck between the GAP (pink and green dotted lines in the chart) created by the 2 Covid-19 starting weeks.
Based on these two weaknesses in S&P 500 Index, if price closes below level of 3,311.69 in an weekly basis and its low is taken out then the possible price objectives can be as below:
1. 3,261.94
2. 3,257.08
3. 3,161.47
4. 3,061.00
5. 3,052.05
6. 2,886.34
7. 2,720.63
8. 2,484.71
However, we need to be extremely careful to observe that if this Market is not closes below our level of 3,311.69 in an weekly basis and its low is getting taken out then we will reverse our price targets to the upside which we will post in the coming weeks.
To know the possible answer to this critical question and to take advantage of our proprietary Advance technical analysis so that you can move to the next level in your trading journey and be good at trading the stock market indices, click here.
Our Unique, Proprietary and most accurate Trader Foundation Course has the capability to identify these markets’ price objectives at a regular interval which we share with our Paid Clients.
To Trade Stock Markets Indices in the Professional way and to find out the answers to all your Trading related queries, please contact us at +61 3 9790 6476 and book your FREE discussion session for 30 minutes at Level 3, 2 Brandon Park Drive, Wheelers Hill, Victoria 3150.
At N P Financials, we provide more than 18 different ways to assist you to move to the next level in your Trading. Are you exploring the following offerings? If not, start now doing the same:
- Dedicated one-on-one coaching in-house or remote via Skype/ Google hangouts,
- Monthly Class(es) in-house or remote via Skype/ Google hangouts,
- Technical analysis based on Price Action insights/ interpretation (Bar-by-Bar) and/ or Proprietary Indicators/ Strategies which shall make your life easier if you are serious about trading,
- Written Course material (practical, concise and step-by-step guide/ manual) broken down into Modules and Units for your ease,
- Plenty of Real Market examples to make your Trading understanding clearer,
- Self assessment tasks on almost every aspect of Trading taught as well as expert advice on your completed tasks,
- Multi time frame trading model(s) based on momentum swings and market bias,
- Mental Skill Sets required for trading including the control of Cognitive Bias, Amygdala and HPA Axis actions affecting Trading,
- Screen shots of all possible trade set-ups with analysis and commentary,
- Multiple Asset Class evaluations based on Proprietary Market Turning Point indicator,
- Instruction based discussions of high Probability Set-ups with advanced position sizing,
- Mathematical aspects of Trading including positive expectancy, Money/ Risk Management with Proprietary and Logical stop loss,
- Sample Trade Ideas with Outcomes to maximise profit target potential,
- Membership portal with Traders’ breakout room to help develop Trading Plans with a Journal,
- Trading Videos to consolidate your Learning,
- Regular Blog Posts on all aspects of Technical/ Fundamental/ Psychological (Greed/ Fear/ Discipline) Trading,
- Answers to all your questions/ queries.
- Access to our Principal trader over phone/ email/ online chat/ face-to-face/ Skype/ Google hangouts and much more…
To take advantage of our proprietary technical analysis and to move to the next level in your trading journey, and to be good at trading the stock market indices, click here.
Our Unique, Proprietary and most accurate Trader Foundation Course has the capability to identify these markets’ price objectives at a regular interval which we share with our Paid Clients.
To Trade Stock Markets Indices and Forex Pairs in the Professional way and to find out the answers to all your Trading related queries, please contact us at +61 3 9790 6476 and book your FREE discussion session for 30 minutes at Level 3, 2 Brandon Park Drive, Wheelers Hill, Victoria 3150.
